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LANDS CLAUSES CONSOLIDATION ACT 1845 - SECT 113

Deposit of such sum when refused on tender.

113. If upon payment or tender to any such mortgagee of the amount of the
value or compensation so agreed upon or determined such mortgagee shall fail
to convey or release to the promoters of the undertaking, or as they shall
direct, his interest in the lands in respect of which such compensation shall
so have been paid or tendered, or if he shall fail to adduce a good title
thereto to the satisfaction of the promoters of the undertaking, it shall be
lawful for the promoters of the undertaking [to pay into the Supreme Court the
amount of such value or compensation; and the making of payment to the
mortgagee or into the Supreme Court] shall be accepted by such mortgagee in
satisfaction of his mortgage debt, so far as the same will extend, and shall
be a full discharge of the portion of the mortgaged lands so required from all
money due thereon; and it shall be lawful for
the promoters of the undertaking, if they think fit, to execute a deed poll,
duly stamped, in the manner herein-before provided in the case of the purchase
of lands by them; and thereupon such lands shall become absolutely vested in
the promoters of the undertaking, as to all such estate and interest as were
then vested in the mortgagee, or any person in trust for him, and in case such
mortgagee were himself entitled to such possession they shall be entitled to
immediate possession thereof; nevertheless every such mortgagee shall have the
same powers and remedies for recovering or compelling payment of the mortgage
money, or the residue thereof, (as the case may be,) and the interest thereof
respectively, upon and out of the residue of such mortgaged lands, or the
portion thereof not required for the purposes of the special Act, as he would
otherwise have had or been entitled to for recovering or compelling payment
thereof upon or out of the whole of the lands originally comprised in such
mortgage.

© 1845 Crown Copyright

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